CS Executive Corporate and Management Accounting PYQ December 2024: Question Paper and Available Answers

CS Executive Corporate and Management Accounting PYQS Series December 2024 100 Questions Indexed

ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Corporate and Management Accounting PYQS (December 2024). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

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Indexed questions

“Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial
Statement of Profit and Loss of the company shall be prepared according to Part II of …………… of the Companies Act, 2013.
Non-Current Liabilities does not include ………….
Current Assets do not include ………….
…………… represents a potential obligation that could be created depending on the outcomes of an event.
…………… are not assets at all since they are not represented by any tangible possession.
A trial balance may be prepared in:
Accounting Equation is represented as :
Proprietary funds are equal to:
…………… are not redeemable, however, a company may buy back its …………… as per conditions prescribed under Companies Act, 2013.
IAS-8 deals with ……………
Generally, the Articles of the company specify the rate at which interest will be payable/receivable on calls-in-Advance/calls in Arrear. Table F of the Companies Act, 2013 will be
X applied for 2,000 shares of ₹ 10 each at a premium of ₹ 2.50 per share. He was allotted 1,000 shares. After having paid ₹ 3 per share on application, he did not pay the allotment
On the basis of Question No. 13, calculate the amount to be debited to Shares Forfeiture Account at the time of reissue of Forfeited Shares.
On the basis of Question No. 13, calculate the amount of gain transferred to capital Reserve after reissue of forfeited shares.
Which of the following statements is false ?
When shares are bought back at discount, the journal entry passed is:
The affairs of the ICAI are managed by …………… in accordance with the provision of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulation 1988.
On 1st April 2023 XYZ Ltd. granted 5000 ESOPs at ₹ 30 per share, when the market value was ₹ 50 per share. The options were to be exercised till the month of March, 2024. Calculate
The mission of the IFRS foundation is to develop standards that bring …………… to financial market around the world. Their work serves the public interest by fostering trust, growth a
ABC Limited issued 50000 equity shares of which only 60% was underwritten by Sun. Application for 48,000 shares were received in all out of which Sun marked application were 26000
1st April, 2021, XYZ Ltd. issued 5,000; 8% Debentures of ₹ 100 each at ₹ 96 and redeemable at par after 5 years. The company offered option to the Debenture- holders to convert the
Calculate, the amount credited to Security Premium Account as on 1.4.2024 on the basis of information provided in Question No. 22.
As per AS10 (revised), property, plant and equipment, which of the following costs is not included in the carrying amount of an item of PPE.
A company issue of 12%, 100000 debentures of ₹ 100 each at 10% discount and redeemable at a premium of 5%. Calculate the amount of loss on issue of debenture.
“Existing standard AS 26 allow for only the cost model as a part of the accounting policy. Ind AS 38 permits revaluation model in addition to cost model.” This statement refers to
Ind AS …………… relates to adjustment of the profit and loss for the effects of undistributed profit of the associates and non-controlling interests' while determining the net cash fl
The buy-back of equity shares in any financial year cannot …………… exceed of its total paid-up equity capital in that financial year.
A part of the capital which can be called-up only at the time of winding up of the company is called ……………
A company forfeited 100 equity shares of ₹ 100 each on which a final call of ₹ 4 per share was unpaid. At what minimum rate/ amount per share, these shares can be issued by the com
The Escrow account under Regulation 9 (xi) of SEBI (buy back of securities) Regulation, 2018 does not include:
Calculate the amount of discount to be written off in eighth (VIII) year on the debenture of ₹80,00,000 issued at a discount of 10% repayable in annual drawing of ₹ 10,00,000 each
ABC Ltd., issued 20,00,000 10% debenture at a discount of 5%; the debenture- holders have an option of converting the amount into 10 equity shares at a premium of 20%. A debenture-
When a company issues debenture at par or at a discount which are redeemable at a premium, the premium payable on redemption of the debenture is treated as ……………
Financial Statement template that shows the order of how each statement works together to report the full economic position of a company beginning with the ……………
On 1st April, 2022 fixed assets were purchased by company at a cost of ₹ 3,40,000 and were installed at a cost of ₹ 10,000. Some new additional assets were installed on 1st July, 2
Reserves are also known as ……………
What is the meaning of paid-up share capital used for calculation of effective capital for the purpose of the managerial remuneration ?
The board shall ensure that the administration overheads …………… of total CSR expenditure of the company for the financial year.
As per AS 17, reportable segments are those whose total revenue from external sales and inter-segments sales is ……………
The following information is of A Ltd. and its subsidiary B Ltd. as on 31st December, 2023: Particulars A Ltd. (₹) B Ltd. (₹) Equity and Liabilities Equity share capital @ 10 each
Calculate: A Ltd.'s share in capital profit and reserve on the basis of information provided in Q. No. 41.
Calculate Cost of control on the basis of information provided in Q. No. 41.
Calculate: The amount of Minority Interest on the basis of information provided in Q. No. 41.
Capital Dividend received by the holding company is …………… its cost of investment in the equity shares of subsidiary company while computing goodwill/capital reserve.
At the time of …………… inter-company debts and acceptances are to be cancelled out.
The features of Corporate Financial Reporting are ……………
According to the FASB conceptual framework, an entity's revenue may result from ……………
CARO (Auditor's Report) Order, 2020 contains total …………… reporting clauses.
As per the provisions relating to Corporate Governance under Companies Act, 2013, the strength of number of Independent directors to be appointed in a listed public company is :
Section 211(1) of the Companies Act, 2013 states that the …………… shall established an office called Serious Fraud Investigation office to investigate fraud relating to a Company.
ABC Ltd. whose shareholder's equity amounts to ₹ 10,00,000. The company owns 4,000 preferred shares and 1,50,000 common shares. The present market value for the common shares is ₹
Cash flows arising from transaction in a foreign currency should be recorded in an enterprise's reporting currency by applying to the foreign currency amount, the exchange rate ………
Net profit before working capital changes of N Ltd. is ₹ 3,52,000. The changes in the working capital during the year are as follows: Particulars Amount in ₹ Decrease in stock 2,68
Cash payments to and on behalf of employees is an example of cash flow from ……………
The following information is available : Particulars Amount in ₹ Opening cash balance 10,000 Closing cash balance 12,000 Decrease in Trade Receivable 5,000 Increase in Trade Payabl
On the basis of the Q. No. 56, calculate the amount of cash from investing activities.
On the basis of the Q. No. 56, calculate the amount of cash from financing activities.
Investing activities refers to the activities pertaining to the acquisition and disposal of:
Read the following information: Particulars/Balance as on March 31, 2023 (₹) March 31, 2024 (₹) Machinery 5,00,000 6,00,000 Accumulated Depreciation 1,64,000 1,80,000 During the ye
Cost Unit is defined as a ............
Calculate the prime cost from the following information: Direct material purchased: ₹ 1,00,000 Direct material consumed: ₹ 90,000 Direct labour: ₹ 60,000 Direct expenses : ₹ 20,000
Calculate cost of sales from the following: Net Works cost: ₹ 2,00,000 Office and Administration Overheads: ₹ 1,00,000 Opening stock of WIP: ₹ 10,000 Closing stock of WIP: ₹ 20,000
Fair value of shares can be calculated by using the formula:
Indirect expenses or overheads are not associated with ............, they represent the cost of facilities required for carrying on the operation.
The actual profits of the firm are ₹ 35,000. The normal rate of return is 10% per annum. The average capital employed is ₹ 2,50,000. What is the amount of goodwill as per capitaliz
The Companies Act, 2013 empowers the ............ to make the rules so that companies engaged in specified industries, manufacturing, providing goods and services are compelled to
The category of companies specified in rule 3 and whose threshould limit is as laid down in rule-4, shall within ............ of the commencement of every financial year, appoint a
Every company specified in item (A) of rule 3 shall get its cost records audited in accordance with these rules, if the overall annual turnover of the company from all its products
As per the valuation under SEBI (Substantial Acquisition of Shares and takeover) Regulation, 2011, traded turnover of the shares less than 10% in the last 12 calendar months preced
A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is known as ............
An entity issued 50 shares each to its 170 employees subject to service condition of next 2 years. The settlement is to be made in cash. Grant date fair value of the share is ₹ 85
A budget variance is ............ when the actual revenue is higher than the budget or when the actual expense is less than the budgeted expense.
The actual output of 1,62,500 units and actual fixed costs of ₹ 87,000 were exactly as budgeted. However, the actual expenditure of ₹ 3,00,000 was ₹ 18,000 over budgeted. What was
Estimated wages for January month is ₹ 8,000 and for February month ₹ 8,800. If the delay in payment of wages is 1/2 month, the amount of wages to be considered in cash budget for
ABD Ltd. has forecast its sales for the next three months as follows: May month: 12,000 units June month: 20,000 units July month: 25,000 units Opening stock as on 1st April is exp
Beta is an indicator of ............ of the security. It measures the sensitivity of a security's return with respect to market return.
Net operating profit after tax is ₹ 20,00,000. Total capital employed is ₹ 1,50,00,000. Expected return on total capital employed ₹ 15,00,000. Calculate Economic Value Added in ₹.
Which of the following is considered a profitability measure ?
............ reflects the percentage return that an investor receives on his investment at the current market price of the shares.
Proprietary Ratio 0.6 = (Fixed asset/Proprietary fund) Current assets = ₹ 2,00,000 Current liabilities = ₹ 80,000 Assuming no long-term liabilities, Fixed assets = ?
The following information from ABC Ltd. Current Ratio = 2.5 Liquid Ratio = 1.5 Proprietary Ratio = 0.75 Working Capital = ₹ 60,000 Reserve and Surplus = ₹ 40,000 Bank Overdraft = ₹
On the basis of Q. No. 82, you are required to calculate the amount of Liquid (Quick) assets.
On the basis of Q. No. 82, you are required to calculate the amount of Share Capital.
On the basis of Q. No. 82, you are required to calculate the amount of fixed assets.
On the basis of given information, calculate Operating Profit Ratio. Cost of goods sold = ₹ 4,80,000 Gross Profit is 20% on sales Operating Expenses = ₹ 30,000
The fundamental principle of the system of reporting is that the information contained therein should meet the requirement of its recipient. The higher level of management reports
An effective management reporting system helps ............
'Special report is to be presented after investigating the problem which requires being scrutinized.' This statement is ............
Following information is available about a company: Cost per unit: Raw Materials ₹ 25; Labour ₹ 10; Variable Cost ₹ 5; Selling Price ₹ 50 per unit. Fixed Overheads for the year ₹ 2
On the basis of Q. No. 90, you are required to calculate Net Profit.
The total cost and profit during two periods were as follow: Period 1 Period 2 Total Cost ₹ 4,50,000 ₹ 6,50,000 Profit ₹ 50,000 ₹ 1,00,000 You are required to calculate Profit Volu
On the basis of Q. No. 92, you are required to calculate Break-Even-Sales.
On the basis of Q. No. 92, you are required to calculate required sales for a profit of ₹ 1,25,000
On the basis of Q. No. 92, you are required to calculate profit earned when sales are ₹ 3,50,000.
A company has fixed expenses of ₹ 1,80,000 with sales at ₹ 6,00,000 and a profit of ₹ 1,20,000. Calculate margin of safety.
Business valuation is the process of determining the 'Economic Worth' of the company based on its business model under certain assumption and limiting key factors subject to the da
Assume that a deposit to be made at year zero into an account that will earn 8% compounded annually. It is desired to withdraw ₹ 6,000 three years from now and ₹ 8,000 six years fr
The following information is given: Profit after tax ₹ 1,10,000 10% Preference shares of ₹ 100 each. ₹ 1,00,000 Equity shares of ₹ 100 each ₹ 5,00,000 Normal rate of return 16% 80%
Ind AS 113 fair value measurement does not apply to the following:

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